Snap plunges after CEO warns company will miss on earnings, revenue

Snap plunges after CEO warns company will miss on earnings, revenue

Snap shares plunged 30% in extended trading on Monday after CEO Evan Spiegel warned in a note to employees that the company will miss its own targets for revenue and adjusted earnings in the current quarter. The social media company will also slow hiring through the end of the year as it looks to manage … Read more

Stock futures fall after Dow’s 600 point comeback

Stock futures fall after Dow’s 600 point comeback

Stock futures fell in overnight trading on Monday as the markets struggled to sustain a comeback rally following weeks of losses. Futures on the Dow Jones Industrial Average fell 110 points, or 0.34%. S&P 500 futures dipped 0.69% and Nasdaq 100 futures dropped 1.33%. Zoom Video shares popped 6% in extended trading after sharing strong … Read more

SpaceX President Gwynne Shotwell defends Elon Musk over sex misconduct allegations

SpaceX CEO Elon Musk participates in a postlaunch news conference inside the Press Site auditorium at NASA’s Kennedy Space Center in Florida on May 30, 2020, following the launch of the agency’s SpaceX Demo-2 mission to the International Space Station. NASA / Kim Shiflett SpaceX President and COO Gwynne Shotwell defended Elon Musk in an … Read more

Embattled US Rep. Cawthorn faces House ethics probe after election defeat By Reuters

© Reuters. PHOTO PHOTO: US Rep. Madison Cawthorn of North Carolina speaks at the Conservative Political Action Conference (CPAC) in Orlando, Florida, US February 26, 2021. REUTERS / Octavio Jones / File Photo WASHINGTON (Reuters) -US Representative Madison Cawthorn, a scandal-plagued Republican who lost his re-election bid last week, faced a congressional ethics probe on … Read more

Bank balances surged during Covid even as pandemic-era stimulus ended, BofA CEO says

Bank of America’s account holders saw strong growth in their balances during Covid and have yet to spend down their pandemic-era stimulus money, CEO Brian Moynihan told CNBC. In an interview on “Squawk Box” from The World Economic Forum in Davos, Switzerland, BofA’s chairman said customers who had between $ 1,000 to $ 2,000 before … Read more

California governor vows water use limits unless residents conserve By Reuters

© Reuters. FILE PHOTO: California Governor Gavin Newsom speaks during the groundbreaking ceremony for the “Wallis Annenberg Wildlife Crossing” over a major freeway in Agoura Hills, near Los Angeles, California, US, April 22, 2022. REUTERS / Aude Guerrucci By Dan Whitcomb LOS ANGELES (Reuters) – California Governor Gavin Newsom on Monday warned he would order … Read more

BlackRock downgrades stocks, citing Fed over-tightening and China risk

With the Federal Reserve’s tightening cycle underway and a slowdown in China that rivals the 2020 downturn, BlackRock is shifting its perspective on the equities market. The asset manager on Monday downgraded developed market equities to a neutral rating from overweight as central banks look to combat rising inflation. BlackRock manages about $ 9.6 trillion … Read more

Videogame publisher Activision illegally threatened staff, US agency says By Reuters

© Reuters. FILE PHOTO: The Activision booth is shown at the E3 2017 Electronic Entertainment Expo in Los Angeles, California, US June 13, 2017. REUTERS / Mike Blake By Kanishka Singh and Daniel Wiessner WASHINGTON (Reuters) -Videogame publisher Activision Blizzard Inc (NASDAQ 🙂 enforced a social media policy that conflicted with workers’ rights and illegally … Read more